Subject: S7-24-99
Author: Cage at Internet
Date: 10/27/99 9:41 PM
Sirs: With regard to the above noted rule changes regarding short
sales, is the government not aware of abusive shorting practices that
are taking place, and the cloudy issue of "naked shorting" which it
seems highly probable is occurring from sources outside of the United
States? In my judgment, these practices seem to be aided and abetted
systematically by short sellers who post false and misleading
information on public internet chat boards. I believe that regulators
are far "behind the curve" in awareness of these abuses. Although these
proposed new rules are intended to apply to only a certain class of
stocks, weakening the rules at this point would be a definite step
backwards and a threat to the process of capital formation for
relatively new and vulnerable companies. Please do not pass this rule.
--Carolyn Cage